Generali to sell Turkish subsidiary

Generali has announced the sale of its 99.99% stake in Generali Sigorta A.Ş. to a consortium led by Kiler Holding A.Ş. (42% stake), along with Ekol Girişim Sermayesi Yatırım Ortaklığı A.Ş. (9% stake), Arex Yatırım Holding A.Ş. (48% stake), and Arex Sigorta A.Ş. (1% stake).

This move aligns with Generali’s “Lifetime Partner 24: Driving Growth” strategy, which focuses on prioritizing key markets where the company has a strong presence. The Turkish business contributed minimally to Generali’s operating results, and the transaction will have a negligible impact on the Group’s Solvency II position.

The deal is expected to close in the first half of 2025, pending regulatory approvals. PwC served as the sole M&A advisor and conducted vendor due diligence for Generali, while Esin Attorney Partnership provided legal counsel.